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Tata Consultancy Services (TCS) was ranked the most valuable brand for the third year in a row with a brand value of $49.7 billion, according to the latest Kantar BrandZ report. HDFC Bank ($38.3 billion), Airtel ($29.9 billion), Infosys ($25.3 billion) and State Bank of India ($18 billion) were ranked among the top five in the Kantar BrandZ Most Valuable Indian Brands Report 2024. ICICI Bank, Jio, Asian Paints, HCL Tech and LIC also featured in the top ten rankings.
The report noted that the combined brand value of the top 75 brands in India saw a 19 per cent increase over 2023 to $450.5 billion which was led by a diverse set of brands.
Deepender Rana, Executive Managing Director, Insights, South Asia at Kantar, said this impressive growth outpaced BrandZ rankings globally. “Strong brands consistently outperform the market. Over the past year, the companies behind India’s Top 75 brands have achieved an impressive 52 per cent stock market growth, outpacing the 37.6 per cent growth for the Sensex. Brands that thrive are those that create a ““meaningful difference” by meeting evolving consumer needs, challenging industry norms, and forging strong emotional connections. The top performers in this brand ranking have embraced disruption and innovation, leading to significantly higher growth.”
Fastest riser
Zomato, which is ranked on 31 spot, was seen as the “Fastest Riser” with 100 per cent growth in brand value year-on-year on the back of innovation and expansion into quick commerce.
“Seven brands debut in India’s brand ranking this year, including jewellery retail brands CaratLane (No.45; $2.7 billion) and Kalyan Jewellers (No.71; $1.6 billion) and Real Estate brand, Lodha (No.63; $1.9 billion). Godrej Properties (No.70; $1.66 billion) also re-enters the ranking,” the report noted.
The report noted that while investor confidence is strong, large brands face a looming challenge of long-term decline in demand power. Over 20 per cent of Indian brands were found to be lagging in terms of differentiation. It added that brands that have grown in demand power were able to grow their brand value nearly 2x the rate of others and have been ranked among the top 75 most valued brands between 2019 and 2024
Soumya Mohanty, Managing Director & Chief Client Officer, Insights, South Asia at Kantar, says, “It’s not enough to make consumers want to buy, brands must build their saliency and relevancy across all touchpoints, from advertising to in-store experiences. Successful brands create a consistent presence that resonates with consumers, driving both awareness and loyalty.”
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